«The consortium
of 40 +
banks (known as R3cev) which aims to do just that will inevitably develop something which: is permissioned (for users and developers like the apple app store), privatized, has fees, will not be entirely transparent to everyone, will not be open - source, it will definitely be inflationary to accommodate monetary policy
of debasement and fractional reserve schemes, it will facilitate negative interest rates, central control
of accounts for suspension / freezing
of funds, bail - ins, bail
outs, capital controls and transactions will include the identity
of both sender and receiver and store that information in a centralized location for the convenience
of hackers.»